Customers Bancorp, Inc. (NYSE:CUBI) Insider Sells $268,507.36 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $52.95 on Friday. The stock’s 50-day moving average is $47.22 and its 200-day moving average is $49.01. Customers Bancorp, Inc. has a 1-year low of $40.61 and a 1-year high of $68.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.68 billion, a P/E ratio of 8.60 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company’s revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Equities research analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently made changes to their positions in CUBI. Ridgewood Investments LLC acquired a new stake in Customers Bancorp during the 2nd quarter valued at approximately $48,000. Innealta Capital LLC bought a new stake in Customers Bancorp during the second quarter valued at $74,000. GAMMA Investing LLC grew its holdings in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the period. Quest Partners LLC raised its position in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CUBI shares. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. StockNews.com downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 4th. B. Riley boosted their price target on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James reduced their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, DA Davidson boosted their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.